Owens & Minor (NYSE:OMI) Issues Earnings Results, Beats Expectations By $0.02 EPS

Owens & Minor (NYSE:OMI) released its quarterly earnings results on Friday. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02, Briefing.com reports. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.61 billion. Owens & Minor had a negative net margin of 0.37% and a positive return on equity of 12.97%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. Owens & Minor updated its FY 2024 guidance to 1.400-1.700 EPS and its FY24 guidance to $1.40-1.70 EPS.

Owens & Minor Price Performance

OMI stock opened at $18.21 on Monday. Owens & Minor has a 1 year low of $13.34 and a 1 year high of $28.35. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.16 and a quick ratio of 0.56. The firm has a market capitalization of $1.39 billion, a PE ratio of -35.71, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52. The business has a 50 day simple moving average of $25.35 and a 200-day simple moving average of $21.49.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. TheStreet raised Owens & Minor from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Robert W. Baird increased their price objective on shares of Owens & Minor from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Barclays upped their price target on shares of Owens & Minor from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. UBS Group lowered their price objective on Owens & Minor from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, January 29th. Finally, SVB Leerink initiated coverage on Owens & Minor in a report on Monday, February 26th. They set a “market perform” rating and a $24.00 target price for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Owens & Minor currently has an average rating of “Hold” and an average target price of $23.86.

Insider Buying and Selling

In related news, SVP Jonathan A. Leon sold 5,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $24.84, for a total value of $124,200.00. Following the completion of the sale, the senior vice president now owns 84,673 shares of the company’s stock, valued at $2,103,277.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Owens & Minor news, SVP Michael Wayne Lowry sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the completion of the sale, the senior vice president now owns 71,654 shares of the company’s stock, valued at $1,791,350. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jonathan A. Leon sold 5,000 shares of Owens & Minor stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $24.84, for a total value of $124,200.00. Following the completion of the sale, the senior vice president now owns 84,673 shares in the company, valued at approximately $2,103,277.32. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by company insiders.

About Owens & Minor

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.